Support from Nov 15 2012 (9.865)has been retested, has held, and price is now consolidating whilst slowly drifting higher. In addition to this structure reaching the D point for longs, has ticked higher over the same period since reaching the low at $9.86. The Federal Reserves reluctance to begin tapering this month is now supportive of the price and should result in buyers re-emerging now that they have MOAR backing to dabble in this security.
Preliminary targets lie at the red horizontal rays; the first of which must be breached in order for this structure to be considered as turning constructive and moving as planned towards targets 1/2/3.
I haven't bothered to look at the order book for Vivus as I will leverage this trade with a CFD , rather than via actual shares. It should also be noted that this company is in it's infancy, and is not yet producing positive net income, any trades should be based on the pattern, and not as a long term investment unless you have committed to doing the necessary research into the company.
Target 1: $11.86 (Minimum R:R=1.5 Maximum R:R=2.28)
Target 2: $12.45/50
Target 3: $13.12